|Day's Range||8.44 - 8.44|
The state of California on Monday sued e-cigarette maker Juul Labs Inc, alleging the San Francisco company engaged in a "systematic" and "wildly successful" campaign to attract teenagers to its nicotine devices. The lawsuit draws on internal correspondence and other evidence, asserting the company did little to prevent sales to underage customers. It also claims that Juul used a "flawed" age-verification process for online sales.
NEW ORLEANS, Nov. 18, 2019 -- ClaimsFiler, a FREE shareholder information service, reminds investors of pending deadlines in the following securities class action lawsuits:.
NEW YORK, NY / ACCESSWIRE / November 18, 2019 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate ...
NEW YORK , Nov. 18, 2019 /CNW/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Altria Group, Inc. ("Altria" or the "Company") (NYSE: MO) and certain of its officers. The class action, filed in United States District Court, for the Eastern District of New York , and indexed under 19-cv-05579, is on behalf of a class consisting of all persons and entities other than Defendants who purchased or otherwise acquired Altria securities between December 20, 2018 and September 24, 2019 , both dates inclusive (the "Class Period"), seeking to recover damages caused by Defendants' violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b -5 promulgated thereunder, against the Company and certain of its top officials.
(Bloomberg) -- Juul Labs Inc. was sued by California for allegedly targeting teenagers with ads for its e-cigarettes, after a series of lawsuits filed by schools, parents and others against the market leader as deaths and illnesses linked to vaping add up across the U.S.“Juul adopted the tobacco industry’s infamous playbook, employing advertisements that had no regard for public health and searching out vulnerable targets,” said California Attorney General Xavier Becerra, who announced the lawsuit at a news conference Monday in Los Angeles. “Today we take legal action against the deceptive practices that Juul and the e-cigarette industry employ to lure our kids into their vaping web.”The San Francisco-based e-cigarette company has become a target of government regulators attempting to stem an epidemic of new nicotine users who have flocked to the sleek device even though many have never smoked cigarettes.Becerra alleges that Juul targeted young people in its advertising, failed to include required warnings, knowingly delivered tobacco products to consumers without verifying their age, kept the personal e-mails of minors who tried and failed to make a purchase, and proceeded to market Juul to them.The suit seeks to make Juul pay for the cost of addiction treatment and for prevention. Becerra also wants the court to order Juul to abate a public nuisance and to stop making false and misleading statements and engaging in unfair competition, according to the complaint, and is asking for as much as $2,500 per violation of California false advertising and unfair competition laws.The public-nuisance claims are similar to those against opioid makers and distributors.Read More: Juul, Altria Sued Over E-Cig Marketing as Legal Claims MountJuul hasn’t yet reviewed the lawsuit but is committed to “resetting the vapor category” and “earning the trust of society” by working with authorities to “combat underage use and convert adult smokers from combustible cigarettes,” Juul spokesman Austin Finan said in a statement. In the U.S., Juul has stopped accepting orders for Mint JUULpods and suspended all product advertising, Finan said.“Our customer base is the world’s 1 billion adult smokers and we do not intend to attract underage users,” according to the statement.School districts across the U.S., among others, have filed federal suits claiming an economic burden from teen vaping, and there are more than 40 suits in state courts as well. Some of the plaintiffs are parents who claim their children got addicted to nicotine by using e-cigarettes.In addition, the company is facing investigations by the U.S. Food and Drug Administration and the Federal Trade Commission, a congressional inquiry and, reportedly, a criminal probe by the Department of Justice.Juul dominates the U.S. market for e-cigarettes. Its vaporizer has been particularly popular with younger users. Altria Group Inc., which makes and markets Marlboro cigarettes in the U.S., invested about $13 billion in the closely held company last year in exchange for a 35% stake. Altria isn’t named as a defendant in California’s suit.As of Nov. 13, the Centers for Disease Control and Prevention has reported 42 deaths of patients tied to e-cigarette or vaping product use, with a further 2,172 cases of associated lung injury reported nationwide. Four of the deaths were patients in California, according to a statement from the attorney general.(Updates with what suit seeks in fifth paragraph and with Juul comment below)\--With assistance from Ellen Huet.To contact the reporters on this story: Edvard Pettersson in Los Angeles at email@example.com;Erik Larson in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: David Glovin at email@example.com, Peter Jeffrey, Peter BlumbergFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
NEW YORK, NY / ACCESSWIRE / November 18, 2019 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Investors Affected: on behalf of all persons who purchased Dropbox Class A common stock pursuant or traceable to the registration statement issued in connection with the Company’s March 23, 2018 initial public offering.
NEW YORK, NY / ACCESSWIRE / November 18, 2019 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. If you suffered a loss, you can request that the Court appoint you as lead plaintiff.
Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Altria Group, Inc...
NEW YORK, NY / ACCESSWIRE / November 17, 2019 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered ...
NEW ORLEANS, Nov. 15, 2019 -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors of pending.
NEW YORK, NY / ACCESSWIRE / November 15, 2019 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate ...
Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. If you suffered a loss, you can request that the Court appoint you as lead plaintiff.
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. On December 20, 2018, Altria acquired a 35% stake in investment in JUUL Labs, Inc. (“JUUL”), the purported U.S. leader in electronic vapor products, including e-cigarettes.
NEW YORK, NY / ACCESSWIRE / November 15, 2019 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. To determine ...
NEW YORK, NY / ACCESSWIRE / November 15, 2019 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can ...
NEW YORK, Nov. 14, 2019 -- The Law Offices of Vincent Wong announce that class actions have commenced on behalf of shareholders of the following companies. If you suffered a.
NEW YORK, NY / ACCESSWIRE / November 13, 2019 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Lawsuit on behalf of: investors who purchased on behalf of shareholders who purchased securities pursuant and/or traceable to the Company's registration statement and prospectus issued in connection with the Company's March 2017 initial public offering and/or between February 17, 2017 and August 8, 2019. According to the filed complaint, (1) the Company's executive officers were improperly reimbursed for certain expenses; (2) the Company had engaged in certain undisclosed transactions with related parties; (3) the Company lacked adequate disclosure controls and procedures; (4) the Company lacked effective internal control over financial reporting; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Pawar Law Group announces that a class action lawsuit on behalf of shareholders who purchased shares of Altria Group, Inc. (MO) from December 20, 2018 through September 24, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Altria Group, Inc. investors under the federal securities laws. A class action lawsuit has already been filed.
Canadian cannabis producer Cronos (NASDAQ:CRON) reported third-quarter 2019 numbers in early November that -- while strong on the revenue and volume fronts -- showed that this company is still struggling tremendously with profitability. CRON stock traded narrowly higher on the news. But, the 2% post-earnings bump in Cronos stock is nothing compared to the 50% beating shares have taken over the past six months.Source: Shutterstock Taking a step back, there are two realities here for CRON stock.First, Cronos increasingly appears positioned to be a survivor in this market, and CRON stock consequently appears materially undervalued relative to the company's long-term profit growth prospects.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSecond, investors won't buy into the first reality -- and CRON stock won't rebound -- until the company figures out its profitability issues, margins head higher and presently wide losses start narrowing.The investment implication? Don't buy the dip in CRON stock just yet. This stock will remain weaker for longer. But, keep the stock on your radar. Once the company does figure out its profitability issues, that could spark a huge rebound that you don't want to miss. Cronos Stock Is UndervaluedWhen it comes to cannabis stocks, my investment thesis is very simple.Current consumption trends imply that the cannabis market will be huge one day -- like alcoholic beverage and tobacco market huge. Each of those markets birthed multiple $20 billion-plus companies. The cannabis market will do the same. But, before it does, it will kill a bunch of companies. As the market matures and grows, it will consolidate around a few large players, who will reap all the rewards while everyone else falls by the wayside. That's just how markets work. * 7 Tech Stocks to Buy for the Rest of 2019 The implication is simple. About 95% of pot stocks today won't be around in a decade. As for the other 5%, they will turn into $20 billion-plus companies.It has become increasingly clear that Cronos belongs in the second, smaller group of long-term winners for various reasons.First, and most importantly, Cronos has landed a multi-billion dollar partnership with tobacco giant Altria (NYSE:MO). This gives Cronos unparalleled ability to invest in the cannabis market and tons of cash to buffer against wide losses today. Second, Cronos has been leveraging this partnership to drive huge volume and revenue gains. Volumes were up more than 500% year-over-year last quarter, while revenues were up nearly 240% year-over-year. Third, the company has also been leveraging its resources to lay the foundation for big growth in the long run. This includes acquiring new brands to broaden and diversify the product portfolio, expanding operations geographically to tap into new markets and building out capacity to further increase supply volumes.It looks like Cronos will survive cannabis market consolidation, and ultimately, turn into an important player in the global cannabis market. Assuming this, CRON stock looks undervalued today. Shares Won't Rebound YetAlthough CRON stock looks undervalued today, it's unlikely that shares will stage a huge comeback anytime soon.Why? Because investors won't buy into this idea that Cronos is a long-term winner until it becomes clear that the company can be profitable at scale.Right now, the profit trends don't look good. In the third quarter, gross margins dropped 14 points year-over-year and 12 points quarter-over-quarter to their lowest level of 2019. Long story short, legal-related expenses are making it tough for legal supply to compete with black market supply, so in order to move product, the legal channel is being forced to cut prices.So long as this dynamic persists, investors won't buy into the CRON stock rebound.When will this discounting problem get fixed? No one really knows. A lot of it depends on how legislation adapts to the current situation. Will black market penalties get more severe? Will legal market taxes be reduced?There is a clear lack of visibility as to exactly when Cronos' profit trends will improve. So long as this is true, CRON stock will remain weak. Bottom Line on CRON StockThere will come a time when buying the dip in CRON stock is the right move. Long term, this stock is going way higher as the cannabis market goes global.But, that time is not now. Instead, for the time being, Cronos stock will remain weak, mostly because the company's profit trends remain weak, and there is a lack of visibility as to when they will improve.Until they do improve, CRON stock won't rebound in a big way.As of this writing, Luke Lango did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Tech Stocks to Buy for the Rest of 2019 * 7 Biotech Stocks to Buy With Plenty of Power in the Pipeline * 5 Stocks to Buy That Are Set for Monster Growth in 2020 The post Q3 Numbers Show Why Cronos Stock May Not Rebound in the Short Term appeared first on InvestorPlace.
The New York Times is reporting that President Trump could be changing his stance on banning flavored e-cigarettes, as his advisors stress that an outright ban could impact vape shops and local business owners in key battle ground states. Tracy Finken, Partner at Anapol Weiss Law Firm, joins Yahoo Finance's Zack Guzman and Brian Cheung, along with Retail Expert Erin Sykes, to discuss.
After announcing he would ban certain flavored e-cigarette products, the President appears to be backpedaling. Yahoo Finance's Julie Hyman, Adam Shapiro, Heidi Chung and Adam Johnson Bullseye Brief author and publisher along with Greg Conley, President of the American Vaping Association a pro vaping advocacy group.